PIRAEUS, Greece, Jan. 13, 2015 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) (the "Company") announced today that it has upsized and priced its previously announced registered public offering of additional 4.00% Convertible Senior Notes due 2018 (the "new notes"). The size of the offering has been increased from $40.0 million in aggregate principal amount of the new notes to $42.0 million in aggregate principal amount of the new notes, and has priced at 111.0%, plus accrued interest, if any, from November 1, 2014. The new notes are expected to have the same terms as, be fungible with, and form a single series with, $86.25 million aggregate principal amount of the Company's 4.00% Convertible Senior Notes due 2018 that were issued in October 2013, all of which remain outstanding. Upon conversion, noteholders will receive cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's election. The Company expects to use the net proceeds from the sale of the new notes for working capital required to fund its expansion into existing and new markets. The Company has granted the underwriters a 30-day option to purchase an additional $6.3 million in aggregate principal amount of the new notes.
The offering is expected to close on January 16, 2015, subject to the satisfaction of certain customary closing conditions.
Jefferies LLC is acting as sole book-running manager for the offering. ABN AMRO, Clarkson Capital Markets LLC and Stifel are acting as co-managers of the offering.
The offering may be made only by means of a prospectus supplement and accompanying base prospectus. When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Jefferies LLC (Attn: Equity Syndicate Prospectus Department), 520 Madison Avenue, 2nd Floor, New York, New York 10022, Phone: 1-877-547-6340, Email: [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the new notes was filed with the U.S. Securities and Exchange Commission and is effective.
SOURCE Aegean Marine Petroleum Network Inc.